51779 Van Dyke AveShelby Township, MI 48316

Property Details for 51779 Van Dyke Ave

Year built

2007

Lot size

1.51 AC

Property size (Sq ft)

11,160 SF

Zone code

C-2

Property type

Day care centers & nurseries

APN

23-07-16-426-009

APU

230716426009

Description

This exceptional investment opportunity presents a fee-simple ownership of a 11,000 square foot, single-story childcare center in Shelby Township, Michigan. Built in 2006, the property sits on a 1.4-acre lot at 51779 Van Dyke Ave, a high-traffic area with over 33,000 vehicles per day. The property boasts a 15-year triple-net (NNN) lease with a reputable tenant, featuring 10% rent bumps every five years and two, five-year renewal options, ensuring consistent income growth. The current annual net operating income (NOI) is $252,000, resulting in an attractive 8.65% cap rate. The asking price is $2,913,294, translating to $264.84 per square foot. The property benefits from a strong demographic profile, with over 184,000 residents within a five-mile radius, a median home value exceeding $284,539 within three miles, and an average household income over $108,000 within the same radius. Nearby retail establishments include well-known brands like Advance Auto Parts, Rite Aid, Tim Hortons, Planet Fitness, Big Lots, and McDonald's, indicating a thriving commercial environment. This is a rare opportunity to acquire a stable, high-performing investment with significant long-term potential. The lease commenced August 1, 2018, and has 15 years remaining. The property is 100% occupied.

• CAP approach

  CAP return

  Valuation

  6%

  $2,268,892

  6.5%

  $2,094,362

  7%

  $1,944,764

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,200,492

  Geo Method

  $1,200,492

• Alternative Use

  Use

  Valuation

  Residential

  $2,656,786

  Hospitality

  $2,433,602

  Educational

  $2,024,728

  Medical

  $2,094,362

  Retail

  $3,149,577

Location Insight

City

Shelby Township

County

Macomb

State

Michigan

Latitude

42.6752

Longitude

-83.0352

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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